I am surprised that people seem to believe that spending is acceptable for our Federal Government, even when they haven’t the money to do it.
If we taxpayers spend money we haven’t got, we find ourselves in trouble with the bank and even with the law. Yet the Gillard Government is actually wasting our money and getting away with it.
Treasurer Wayne Swan managed to turn the $80 billion in the government’s coffers when they took office to a $1536 billion debt in just three years. Now they are planning to dip into our Futures Fund to manufacture a surplus by the end of this year.
The Gillard Government is borrowing at the rate of almost $24 million an hour. They need $12 billion a year just to the pay the interest on the government’s debt.
Abbot is frequently criticised for not promoting big spending programs in advance of the next election. The truth is, he has no idea what funds (if any) will be available when he wins office. If his situation is the same as the current Coalition Premiers of NSW and Queensland discovered when they won office, the cupboard was not just bare — money was so scarce that the only option available was to tighten the belt and act responsibly. That does not make them popular, but good budget management is vital.
Next time you feel like giving thanks for some government handout, just remember, they are handing back some of our money.
Norman Hoffmann
